Archives for November 2020

USA „forget“ to seize R$ 2 million in Bitcoin forks

Coinfirm discovered that several Bitcoin forks have apparently been ignored by the US government, among the examples are the forks: Bitcoin Diamond (BCD), Super Bitcoin (SBTC) and Bitcoin Private (BTCP).

U.S. authorities have lost approximately $400,000 in Bitcoin forks in various wallets confiscated from criminals over the years. The report was released by the cryptomorphic analysis company Coinfirm.

The „lost“ values are composed of Bitcoin forks, i.e., Bitcoin-derived cryptomaps, such as Bitcoin Cash (BCH), and Bitcoin Satoshi Vision (BTCSV).

Over the years several people have cloned the Bitcoin blockchain to create new coins, so Bitcoin holders (before cloning) can sell the cloned coins.

Coinfirm has identified that most of the funds „forgotten“ by US authorities are from the confiscated portfolios of Silk Road (black market closed in 2013). The FBI announced that it confiscated $1 billion of the wallet last month, but no information on the derived coins was provided.

„Although the Justice Department has received praise for securing an individual’s large assets, the story doesn’t end there,“ he said, „Coinfirm has identified millions of dollars in assets that the Justice Department apparently left behind and to which the individual can still have access.

Coinfirm discovered that several Bitcoin forks have apparently been ignored by the U.S. government, examples of which include the Bitcoin Diamond (BCD), Super Bitcoin (SBTC) and Bitcoin Private (BTCP) forks.

To know if an old portfolio has funds in forks, just access the block explorer of the new currency and check the balance and movements.

Coinfirm estimates that the value of the portfolios adding all hardforks can reach $ 400,000. They are 693,701 BCD ($ 310,000), 69,370 SBTC ($ 66,000), and 69,370 BTCP (11,000).

The current holder of the portfolios and private keys may have access to the funds.

Coinfirm has helped authorities identify funds that were left to criminals. The company is one of the world leaders in tracking and tracing digital assets.

The company has found funds in 3 currencies, but currently there are at least 105 Bitcoin hardforks active. Most reach zero value with a short lifespan, but some projects manage to hold on for a while.

It is likely that the value that the U.S. government is leaving to confiscate is much higher than $ 400,000, since as reported by Livecoins, at least another 20 forks are traded above $ 100.

Keine Kommentare

Bitcoin exceeds $ 18,000 to continue its massive rally

BTC follows an ascending and parabolic support line.

Long term resistance can be found at $ 19,650.

Brackets can be found at $ 16,750 and $ 15,500

On November 18, the price of Bitcoin (BTC) peaked at $ 18,476 before dropping significantly. While it is not yet certain whether or not BTC has peaked, we expect a retracement to the support areas.

On November 17, Bitcoin (BTC) posted a massive rise, reaching a high of $ 17,680.

Price continued to rise the next day, but fell sharply after peaking at $ 18,476. However, he has already regained most of the losses from that fall.

Bitcoin is following a parabolic ascending support line, and it has not yet fallen below.

The RSI has generated bearish divergences, but the MACD has reversed and is found higher. The Stochastic Oscillator has yet to form a bearish cross.

The daily timescale shows that BTC has clearly broken above the 0.854 fibonacci retracement level of the earlier decline.

We get the next size resistance from the maximum high as of 2017, not far from $ 19,645

The hourly chart shows a massive bullish recovery candlestick after peaking at $ 18,476. Although BTC hit a low of $ 17,214 in the same hour, posting a decline of over 6%, it quickly recovered, trading at around $ 18,100 at the time of this article’s publication.

The MACD per hour is declining and the RSI per hour has generated bearish divergences, dropping the oversold region.

The Minute Chart presents a more bearish outlook. After its massive fall, the price moved back up to the $ 18,250 area, which initially served as support but has now converted to resistance. Although the BTC first deviated above this area, it then moved back below and then suffered a sharp decline.

Unless BTC manages to regain this area, the short-term trend is considered to be bearish.

Keine Kommentare